Startup Survival Tips

Curated from Inc.com

Getting a business going isn’t easy. When things are starting out, it’s important to understand that there will be a few bumps in the road before success is reached. Here are some tips to keep in mind when going through the stages of launching a startup.

Delegate Tasks

Startup owners may want to do everything themselves to ensure tasks are done correctly. When owners hire employees to do specific tasks and don’t let them do their jobs, that will only lead to more stress. The owner’s job is to build the company and leave other tasks to the employees hired to do them.

“As a human, accept that you can only do so much. That means that if you have more tasks than you can actually achieve, you need to make sure to prioritize the ones that only you can do. If you're writing lines of code all day, that means you're not refining your long-term goals or your financial plan, and you're not building relationships with investors or stakeholders.”

Pay Attention to Every Department

Employees in sales and research departments are staffed first because they lead to business improvement. These employees are crucial, but don’t forget other departments. Administrative assistants, accountants and legal employees are there to aid in the inner-workings of the company. One oversight in a legal or payroll issue could be lead to more problems in the future.

“Everyone knows that adding staff and resources to R&D and sales is usually urgent, and it's absolutely fine to prioritize those two--for the short term. Don't forget the rest of your company though!”

Remember the Company’s Values

Taking advice from clients is a great way to learn how the company can improve. During this process, it’s important to note the core values the company was founded on and to stick with those. Feature creep happens when companies do everything the client requests while also adding value. Pleasing clients and customers is important, but note that businesses aren’t able to do it all.

“Even those of us who are aware of the dangers of feature creep, and have experienced it many times before can sometimes fall victim to it. However, once you realize the issue, it's critical that you refocus on your core value, or you'll risk your business spinning into chaos.”

Saying No Is Okay

Sometimes startups aren’t ready to take on certain clients and it’s okay to say no to them. When a big name client approaches asking for the company’s services, this can be both great and harmful to the company. Taking on these clients can build the company’s reputation, but can also lead to more pressure and overworked employees.

“If you have many small clients approaching you, the temptation is to accept another one every time they call because each individual one seems like an easy task. However, know when the final straw will break the metaphorical camel's back - usually in the form of your valuable employees starting to look elsewhere because they're overworked.”

Ways to Keep a Small Business Afloat During Slow Months

Curated from Entrepreneur.com

While some small businesses remain relatively steady throughout the year, others struggle to stay afloat during their slow months. Weather, economic and seasonal shifts can affect a number of businesses. Companies thriving on summer tourism struggle in the winter, just as restaurants can see slower numbers around the holiday season. Car manufacturing plants, some retail stores, and construction companies specializing in residential housing may also experience slow periods during winter. Here are a few tips on how to keep a small business or startup going during difficult seasons.

1. Do Economic Research

Keeping track of how an industry is faring economically is a major way to keep up with any seasonal issues. Researching how competitors are managing during slow periods and consulting companies that can help boost sales or performance can make a big impact. Keeping in touch with banks and investing partners can also be very beneficial in gaining insight into how the industry is performing overall.

“The best way to stay afloat at hard times is to have healthy, open relationships with your bank and your money partners, using clear communication during the good times and the bad.”

2. Consult Experienced Professionals

Don’t be afraid to seek advice of other industry professionals in well-developed businesses. Ask about their processes for handling slow seasons and what they do to if things start to feel hopeless. Develop a plan based on their suggestions that will be the most effective for the company during these times.

“When things are looking up, it’s easy to hope and plan for continued success. However, staying positive should never mean staying ignorant.”

3. Make a Plan

Making plans and setting goals for slow months is just as important as it is for well-performing months. Be financially conscious and set aside funds to keep on hand during difficult periods to account for different situations. It is also important to take time during slower months to evaluate the business, make some new marketing suggestions, review employees, and prepare for future projects.

“Take that extra free time to evaluate business performance, plan for the future or revisit your branding -- you know, the things you can barely find time for during those hectic busy seasons.”

4. Remain Calm

Slow times can lead to stress and overthinking ways to keep things positive. Remaining calm and taking time to breathe will help in alleviating any worries associated with difficult months. Overthinking quick ways to make money, such as big sales and downsizing could end up hurting the business in the long run.

“Stay the carefully crafted course, and the rough waters will seem less scary.”

Business Phone Do's and Don'ts

Curated from Entrepreneur.com

First impressions with new customers are key through in-person, email, and phone communication. The way phones are answered can have a positive or negative impact on a customer.

Interactive Voice Response (IVR) is a common phone system used by many businesses. These systems can complete tasks such as prompting  “yes” or “no” questions, directing callers to the correct department via a menu, taking payments, and more. This allows for customers to easily complete tasks without being transferred back and forth between departments . When used correctly, these systems can be beneficial in making things simpler for both customers and businesses. However, incorrect use or complicating the system can actually drive business away and cause customers to choose competitors due to poor experience.

Here are a few things to keep in mind when setting up an IVR system.

1. Phone Menus

Don’t make the menu too complicated or lengthy. Even if your menu is trying to be helpful by including details on every department, customers in a rush may hang up if they have to listen for too long.

“Try to keep your menu to no more than three to five items. Any more than that and callers will start to feel lost and confused.”

2. ‘Speak to a Person’ Option

Avoid making it difficult for a customer to speak to a human. Automated systems can be convenient, but if there’s a more complicated request or problem, the customer will want to speak to a live person to get assistance.

“Take that complaint off the table by offering a way to quickly and easily get in touch with a representative right away. Don’t make them wade through lists of options to find it.”

3. Represent Your Brand

Choosing a generic voice set up on the IVR won’t create a lasting impression on customers. These can sound dull and may not portray your brand to the caller.

“Remember the IVR is branding your company. Your IVR is your company’s -- and your brand’s -- first impression, so make it a good one. Avoid bland, boring, or confusing language, and make sure you’re using a voice that your customers can relate to and trust.”

4. Keep it Simple

Prompting callers to give too much information before speaking to the correct department can be deterring. This can lead customers to hang up if they are overwhelmed at the beginning of the call.

“Only get the most pertinent information as to not lose the caller, and when in doubt, go back to the first point -- keep it simple.”

5. Get Feedback

Be sure to ask customers for feedback after the call. This can be a simple survey at the end of of the call or a follow-up on another day.

“Devise a plan to have your team ask callers for feedback on your new IVR system. It can be a survey or a simple question -- “What did you think of our answering system?”

Using Data to Aid in Business Growth

Growing a business can be challenging, especially for businesses who are just starting out. One way that assists business owners in figuring out what’s working and what isn’t is looking at data. This can be data from website hits, marketing campaigns, sales, inventory, etc. Whatever you need can be available just by looking at data and understanding how it can affect the way your business is run.

(Curated from Inc.)

1.Set Business Objectives

Take a look at what your company is trying to accomplish and figure out what is working and what isn’t. Set realistic goals that can help in areas that need improvement or expansion and apply those to relevant data that can help in understanding the bigger picture.

“Spend time thinking about your company--what's your bottom line, what's influencing behaviors--and hone in on what information could help you make better decisions.”

2. Invest in the Proper Tools

In order to look at metrics based on data, the correct tools are needed to provide accurate information. Find programs that provide relevant data to the goals that were set. Keep sources and programs current so data can be stored properly to keep the business on the right path.

“It's likely you'll have data coming from multiple sources and programs, which can make analysis costly. So invest in tools and technology that will help you focus on quality collection, aggregation, and analysis.”

3. Share Information Internally

Make the data accessible to those who can assist in this process. Share the information with various departments through the data collecting software or other means that will allow everyone to communicate accordingly. This will keep everyone on the same page and ensure tasks are being completed properly.

“When you share data, like customer information, with the broader team, you communicate and coordinate with less friction and operate like a well-oiled machine. Your small business will run a lot smoother when your team is in sync.”

4. Develop a Routine

Data can be very telling. After looking through the information that was collected, make it a habit to frequently check in and see what’s going on. Use intuition to guide your business in the direction you think is right, but pull up data to make sure decisions are going to be beneficial or harmful.

“The best way to start applying data analysis is to use your intuition to guide the process, then use data to tell you whether your gut is true or false.”

5. Test Ideas

Look at what the data shows and formulate tests to make necessary changes. Experiment with new ideas, strengthen plans that are working and come up with the best way to improve what isn’t working. After the testing phase, apply the results to the bigger picture and execute plans that will lead to long-term improvement.

“Small businesses have the advantage of agility. Look at your data and formulate tests and hypotheses. Then apply those actions as tests.”

Essential Social Media Tips for Entrepreneurs

In today’s market, social media marketing is a must if you want to grow your business and your brand. It's also one of the least expensive ways to promote your business. When executed well, social media can go a long way toward putting a business on the map.

Mastering social media, overall, isn’t rocket science: A combination of common sense and fundamentals goes a long way. Here are four ways entrepreneurs can win at social media.

(Curated from Inc.)

1. Be an Active Listener

If you want to understand what consumers want, you have to listen to what they're saying. Monitor consumers' online opinions by simply “listening.” Your business can gain valuable marketing insights from this feedback.

"The goal is to listen for relevant conversations, discerning who the applicable influencers are in your specific field," says Shonali Burke, president and CEO of social public relations consulting firm Shonali Burke Consulting. "Once you know who the influencers are, you can influence them, which then spreads your message to others of the same ilk."

2. Make a Plan

Similarly to the way you do everything else in the world of business, you must make a plan before executing. Same goes for social media. An editorial calendar provides a smart way for entrepreneurial businesses to manage multiple social media marketing strategies, which can get complicated otherwise.

"An editorial calendar helps you thematically recognize the social media content you have planned over the next few weeks," Burke says. "It helps organize your schedule so the whole process is a lot less challenging."

3. Amplify

Rather than just churning out social media content and calling it a day, make sure you also help customers so that they amplify their positive experiences in their social media conversations. In order to do this, you must be sensitive to a customer's lifestyle and personal needs.

"You can't help the audience if you don't know their pain points, which means they don't have anything positive to amplify to others," says Andrew Moravick, a research analyst in Aberdeen Group's marketing and sales effectiveness practice. "The solution is not to ask questions of current customers such as, 'How do you like our brand?' but rather to engage in a personal relationship. Ask them what their struggles are. Social media is about life."

4. Understand Your Analytics

Resources like Facebook Page Insights and Twitter analytics provide you with all the information you need to see what is working and what isn’t. Check these daily and stay on top of your campaigns.

"You need objective-based benchmarks and clear measurements for success that you can track on a systematic basis to ensure the messaging is working and is repeatable," says Moravick. "This requires that you first define what it is you're looking to achieve, such as the number of people talking about your business in their social media conversations."

Have any great social media tips of your own? Share them in the comments below!

How Millennials Will Change the Workplace in 2017

The millennial generation, born between 1980 and 2000, is now the largest generation at work and will continue to shape the world of work for years to come -- but what’s in store for us in 2017? Studies show the Millennial generation is more collaborative than others and has a strong preference for remote work options. Additionally, Millennial workers prefer to use technology to interact and get work done.

With that in mind, here are three ways the workplace will change in 2017 and beyond, as younger generations begin to dominate the workforce:

(Curated from Inc.)

1. Instant Messaging Will Become the Primary Internal Communication Tool

While email is typically used as the primary form of communication among employees, many businesses are slowly trying to adopt more efficient forms of internal communication tools, such as instant messaging, project management platforms, and collaboration technology.

“One French IT company, for example, recently tried to eradicate email entirely. According to the company's CEO, only 10 percent of the 200 messages employees received each day were deemed useful, and 18 percent were considered spam. He challenged his 74,000-person company to eliminate internal emails and communicate instead via instant messaging and live chat tools.”

2. Traditional Workspace Designs Will Be Eliminated

Millennial leaders are changing the way workspaces are designed by knocking down the cubicles and replacing them with open, community-driven office spaces.

“Modern business leaders are adopting similar approaches to workplace design by eliminating cubicles and divided departments, and allowing for open meeting spaces and seating areas. Open offices better facilitate communication and encourage more in-person interaction. This leads to better problem solving, more rapid collaboration, and community development.”

3.  The 9-to-5 Schedule Will No Longer Exist

Millennials are reimagining the 40-hour work week. They want to work when they want and where they want.

“The U.S. Bureau of Labor Statistics reports that more than 20 million Americans actively choose part-time work to deliberately secure work-life balance and gain more flexible work hours. Technology also makes it possible for businesses to eliminate the traditional 9-to-5 schedule.”

Millennial business leaders are creating work environments that give employees more flexibility over their schedules, using technology to allow people to work when and where it works best for them.

With constant technological developments, rapidly shifting economies, and increased desire for freedom and meaning, the workplace is evolving. As you go into the new year, keeping these three workplace trends in mind will help you prepare for 2017 and beyond.

How Your Startup Can Master the Art of Emailing

With the amount of emails flooding in every day, it can be difficult to stand out, especially for a new business. Whether your startup needs more clients, partners, customers, or publicity, it’s important to create high quality content for your email campaigns. Here are three ways to get your startup’s email marketing campaign off on the right foot:

(Curated from Entrepreneur)

Get Personal

If copy writing isn’t really your thing, don’t sweat it -- this will probably make your emails sound like they’re from an actual person instead of a sales robot.

“Let your personality show. It will make your message more engaging for readers -- unless that message is self-centered, long-winded or confusing. Your emails should be clear, concise and focused on your audience’s needs.”

Think Small

Rather than treating email like a dating app and taking the “swipe right on everyone” approach, focus on sending the right content to the right people.

“Even though we’ve compiled a big media list, we spend most of our time researching the right journalists to pitch to for each new study we publish. We don’t automatically email everyone in our database just because we have their contact info or we’ve emailed them before. Instead, the story has to be a relevant and potentially valuable resource for the reporter(s) targeted. Creating small, targeted email lists has helped increase our open and response rates, as well as build relationships and credibility with our audience.”

Analyze Your Data

Looking at your email data and making some adjustments to your next campaign is easy, but what about comparing multiple campaigns or targeting high-priority people over time? One way to keep improving results is to manually track key data. If you don’t use email software, you may already do this. If not, then consider creating a simple Excel spreadsheet or another format for record keeping.

“Decide what info is most useful to you and how much detail to include. Having your data in one place will save you time by making it easier to collaborate, analyze behavior and ensure appropriate follow-ups. Ideally, you’ll begin to notice patterns and gaps beyond the typically reported stats, and you can continuously optimize your email strategy.”

Have any great email marketing tips of your own? Share them in the comments below!

How Entrepreneurs Can Rediscover Their Motivation

As an entrepreneur, you’re often faced with difficult challenges on a day-to-day basis, and it can be easy to lose the motivation to keep going. If you feel like you’re losing your drive, here are some easy ways to keep yourself motivated, even when you’ve got other things on your mind:

(Curated from Tech.Co)

Focus on One Task at a Time

When your to-do list has been building up for a while, it can be difficult knowing where to begin and how to get started. The key is to just sit down and focus on one task at a time.

“Telling yourself that you have to sit down and accomplish an hour or two of work is much easier than chaining yourself to a desk for the entire day. You’ll probably find that when you view your tasks individually, you’re able to effectively push yourself through the day without breaking a sweat.”

Don’t Forget Your Goals

What’s the big-picture strategy for your company? What exactly did you set out to accomplish? Are you trying to get a foothold in a competitive market, or were you seeking financial freedom?

“Motivation comes from an emotional desire for something. If you can reconnect with the reason you undertook your responsibilities, you can often find the inner drive to push yourself.”

Surround Yourself with Supportive People

If you’re a one man or woman show, it may be helpful to surround yourself with like minded people while you work to accomplish your goals. Surrounding yourself with negative people will make doing so much more difficult.

“Consider heading down to a coworking space. These places are often full of other freelancers and entrepreneurs who live a very similar lifestyle to you. It can be inspiring to be surrounded by people who have accomplished your goals, or who are starting out just like you once did. If you prefer to work in a solitary environment, you can always spruce up your desk a little bit. De-cluttering your workspace can be almost like de-cluttering your mind, creating room for you to focus on your responsibilities.”

Push Yourself, but Not Too Hard

Setting big goals is important when running a business, but you can’t build a successful career if you’re constantly demanding too much from yourself. If you don’t feel like accomplishing much, you’ll want to set the bar a little lower.

“Try pushing yourself to complete two hours of uninterrupted work. Anyone can find the motivation to push themselves when it’s only for an hour or two. When you’re having a better day, you can stretch yourself a little more. Remember, it’s not always about being the best. Sometimes, it’s just about being a little better than you were the day before.”

What are your tips for staying motivated? Share them in the comments below!

6 Major Branding Mistakes and How to Avoid Them

Branding, a commonly used term throughout the business world, essentially means to create an identifiable entity that makes a promise of value. While branding is not an easy task, it’s one that should be taken very seriously. Numerous startups try, but many fail at creating a successful brand. Here’s how to avoid some common pitfalls and branding mistakes.

(Curated from Tech.Co)

1. Don’t Forget to Trademark

Have you registered your brand’s trademark yet? If not, you’re not alone -- many brand owners fail to do so. However, as soon as you create a brand, it’s important to file a record of the trademark itself under your name with the right government offices.

“Deal with every single infraction of your brand use guidelines and any possible violation of your trademark. If you don’t, you may lose the chance to take any action at all. The point of your trademark is to protect your brand reputation, and keep the competition from copying your work or diluting your brand value. Make sure it does that by addressing infractions.”

2. Do Your Research

Before you choose a name, logo, look, and voice for your brand, do thorough research online. Not only will this help you make the right choices, it could also help protect you against infringing on the intellectual property rights of others.

“Use Google for your research, and when it comes to choosing names, domains, and other branding elements, also search visitcopyright.gov before you make permanent branding decisions.”

3. Choose a Good Domain Name

One of the most important elements of your branding is the right choice of domain name. You want something that reflects your company’s name, but nothing that’s too long, too confusing, or too irrelevant.

“First, make sure you get a good domain name extension. The most popular right now are “.com” and “.co” for general business. But there are many new options out there. There is nothing wrong with picking an industry-specific or even country-specific domain. In general, avoid dashes or numbers in your domain name, and make sure it’s easy to spell. You can also check for similar social media profile URLs.”

4. Pick a Unique Name

Choosing the right name for your business seems simple enough, but before you even start brainstorming names, you need figure out what your company is really about. Also, be careful not to pick a name that’s already popular or has some seriously negative online history.

“Don’t forget, a name that’s too close for comfort may be infringing. Imagine building up your business for 10 years only to find out that you are no longer able to use that name.”

5. Carefully Choose Style Features

Before choosing your brand’s colors, it’s a good idea to know the meaning of them. Have a consistent visual picture and logo that comes to represent your company. The graphics and visuals that represent your brand evoke an emotional response in clients and potential customers.

“Choosing colors, images and other visuals that just don’t work with what you’re doing can dead-end your branding strategy. For example, pink may be your favorite color, but it may work against your new software brand.”

6. Check Cultural Significance of the Name

Your name says a lot about your startup. Be sure to check every reiteration, reference, stigma, or foreign swear word that could be associated with your name, or else you could end up in hot water with another country.

“Content can go viral in hours, so don’t set yourself up for an embarrassing failure in the cultural awareness department. Make sure to review how your name is interpreted in all the major countries you will be doing business in.”

What are some of your top branding tips for startups? Let us know in the comments below!

How to Know If Entrepreneurship Is Right for You

Many people dream of opening their own business, but not everyone has what it takes. How do you know if you’re cut out for the job? While there is no simple way of gauging whether you are or not, there are certain traits and characteristics that come as red flags for someone looking to start a business. Here are some signs that you are not cut out for the entrepreneurial life:

(Curated from Tech.Co)

You Get Along with Everyone

People-pleasers make great salesmen and customer service reps because they are empathetic and shy away from confrontation; however, these are not good traits to have as an aspiring entrepreneur.

“Startup founders and business owners need to be able to put their foot down and demand the things they need. Whether it’s funding, employees, or the right influencer, an entrepreneurs need to be able to stake their claim, regardless of the people that need pleasing.”

You Follow Orders

The world is made of followers and leaders. Which one are you? If you’re comfortable with being an order-taker for the rest of your life, perhaps entrepreneurship is not for you. If, on the other hand, you thrive at making tough decisions and giving some orders, that may be the spark of entrepreneurship.

“Entrepreneurs don’t follow orders. They make their own path and create the circumstances needed to succeed. Even if experts advise otherwise, an entrepreneur acts on well-informed instinct, and those instincts are usually right. Following orders gets in the way of the creative process, and an entrepreneur without creativity might as well start greeting people at Walmart.”

You Love the Status Quo

The status quo helps regulate the business world in many ways -- It lets potential candidates know what it takes to get hired, it keeps employees informed on how to keep their jobs, and it makes it easier for managers to keep track of their team. However, true entrepreneurs are always challenging the status quo.

“Entrepreneurs have no business in the status quo. They’re all about mixing things up, innovating new technologies, and revolutionizing the standard way things get done. As far as entrepreneurs are concerned, “status quo” is a curse word that should never leave their lips. Unless, of course it’s in the sentence, “to hell with the status quo!”

So, based on the above: are you cut out for the entrepreneurial life?